Modular Medical Announces Addition to the Russell Microcap(R) Index
Modular Medical (NASDAQ: MODD), a company focused on developing user-friendly and affordable insulin pump technology, has announced its addition to the Russell Microcap Index. This inclusion will take effect on July 1, 2024, following the annual reconstitution of the Russell indexes.
Membership in the Russell Microcap Index will last for one year, providing Modular Medical automatic inclusion in various growth and value style indexes. FTSE Russell, which oversees this inclusion process, determines membership based on objective market-capitalization rankings and style attributes. The Russell indexes are widely utilized by investment managers and institutional investors, with approximately $10.6 trillion in assets benchmarked against these U.S. indexes.
This development could enhance Modular Medical's visibility and attract more investors.
- Inclusion in the Russell Microcap Index starting July 1, 2024, which lasts for one year.
- Automatic inclusion in appropriate growth and value style indexes.
- Increased visibility and potential attraction of more institutional and retail investors.
- Market-capitalization rankings and style attributes used to determine membership, adding credibility.
- No direct financial benefits or revenue increases tied to index inclusion mentioned.
- Potential over-reliance on market-capitalization rankings, which can fluctuate.
SAN DIEGO, CA / ACCESSWIRE / June 3, 2024 / Modular Medical, Inc. (NASDAQ:MODD) ("Modular Medical"), a development-stage, insulin delivery technology company seeking to launch the next generation of user-friendly and affordable insulin pump technology, today announced that it is set to join the Russell Microcap Index at the conclusion of the 2024 Russell indexes annual reconstitution, effective when the U.S. market opens on July 1, 2024.
Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately
For more information on the Russell Microcap Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.
About Modular Medical
Modular Medical, Inc. (Nasdaq: MODD) is a development-stage medical device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the company seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple to learn. Our mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond "superusers" and providing "diabetes care for the rest of us."
Modular Medical was founded by Paul DiPerna, a seasoned medical device professional and microfluidics engineer. Prior to founding Modular Medical, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented and designed its t:slim insulin pump. More information is available at https://modular-medical.com.
All trademarks mentioned herein are the property of their respective owners.
CONTACT:
Jeb Besser
Chief Executive Officer
Modular Medical, Inc.
+1 (617) 399-1741
IR@modular-medical.com
SOURCE: Modular Medical, Inc.
View the original press release on accesswire.com
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